Indices closed mixed after reacting initially to Japan recession data.
S&P 500 @ 2041.32, high 2043.07, low 2034.46
RSI @ 68.65
CMF @ 0.498
Internals were :
Down volume led by .99 to 1 in NYSE & 1.73 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.91 to 1 in Nasdaq
Net new 52 wk highs were leading by 108 in NYSE & 19 in Nasdaq
VIX UP 5.11% @ 13.99
Oil @ $75.64
Gold @ $1183.50
AH ER...JD Down .6%, URBN Down 3.83%
AH Futures Down
AH Asian markets Mixed
AH Oil & Gold Down
About market, TAPE is in a holding pattern until it breaks one way or other. Internals have deteriorated today and needs watching going forward. Sector preference is changing and is worth taking notes. Solar is not acting well. Gold stocks are behaving much better and needs some exposure. Option expiry is taking a hold this week, action in some stocks may be manipulated. Keep an eye in your own portfolio as we have less than six weeks left in this year trading, do some tax planning @ this stage.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
I am very tempted by WLH given the large drop based on the equity raise they did. With that out of the way, and an analyst upgrade today, and housing stocks doing well, what are your thoughts on a bargain hunt here?
Stocktrader
Hi Stocktrader,
Housing sector is in its strong season now..go for it.
Saleem
Post a Comment